Press Release on issuance of Circular No.30/2016/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular No. 30/2016/TT-NHNN on October 14, 216 to revise a number of circulars on the provision of payment services and payment agent services.
Accordingly, revised circulars include Circular No. 19/2016/TT-NHNN dated June 30, 2016 on bank card activities; Circular No.22/2015/TT-NHNN dated November 20, 2015 on the provision and utilization of cheques; Circular No.39/2014/TT-NHNN dated December 11, 2014 for guidance on payment agent services and Circular No. 36/2012/TT-NHNN dated December 28, 2012 on regulations with regard to managing, operating and ensuring the safe operation of ATMs.
In response to an increase in the risks and fraud of electronic and card payment in Vietnam, and the requirement to clarify regulations on reviewing, and the claiming of loss and errors arising during card usage in order to ensure the rights of customers when using payment services, the SBV has issued this Circular with the following main points:
1. Revising articles of Circular No. 19/2016/TT-NHNN to supplement regulations relating to the method of card issuers to receive claims; card issuers’ time and results of solving claims by cardholders. To revise articles related to procedures for registering the card designs of card issuers at the SBV.
2. Revising several articles of Circular No. 22/2015/TT-NHNN to supplement regulations related to the method by which cheque issuers receive claims; cheque issuers’ time and the results of solving claims by cheque holders.
3. Revising several articles of Circular No. 39/2014/TT-NHNN to supplement regulations related to how card service-providers deal with claims; card service providers’ time and the results of solving claims from customers.
4. Abolishing regulations on the responsibilities of SBV branches to confirm the registration of installing, moving and terminating the operations of ATMs of payment service providers as stipulated in Circular No. 36/2012/TT-NHNN.
The Circular will take effect from November 28, 2016.
Translated by Le Hang